Bob Doll: 2010 Predictions

Blackrock Vice Chairman Bob Doll says 2010 will be positive for stocks but there could be bumps along the way.

Asked by CNBC if a 10 percent correction is possible, he said, "Yes I'd be surprised if we didn't see a 10."

Doll said the market could be due for a correction steeper than the shallow selloffs seen since the market's rally began in March.

He also said it may be that there are some bumps in the first half of the year in contrast to the popular expectation that the market sees smooth sailing early in the year but struggles later in the year. "It may be that it's more even," he said.

Blackrock's Bob Doll predictions for 2010:

S&P 500 probable level of 1250

Sees emerging markets outperform developed markets

Sees U.S. outperforming other developed markets

Sees possible earnings growth of 20% Plus

U.S. economy grows at an above trend 3%

Job growth turns positive early in the year but unemployment remains high

Sees inflation as a non-issue

Expects rates to rise at all points on Treasury curve including Fed funds